Anyone have money burning a hole in their pockets?

[Sojourner]

Definitely have some extra cash to deploy this year, mostly due to the huge drop in travel expenses and dining out. Like many others, I've earmarked a large portion of that money to home improvements/renovations/enhancements and charitable donations. Planning on spending about $12k over the next 12 months to replace a bunch of major appliances and fixtures that are due (or overdue) for the scrap heap, and to fund some other lifestyle upgrades, like getting a bigger, nicer tool shed. I'm also finding myself consciously spending a little more freely on smaller purchases.

It feels good to be spending money in these ways and to know that I'm loosening the purse strings in a tangible manner after so many years of careful frugality. IMHO, it's one of the few silver linings to be found in this pandemic.

 

[MRG]

We are busy spending. I replaced my pickup with a Model Y performance and added accessories was more than I'd ever considered spending on a vehicle. I am pleased with the purchase. DW provided she was up to the challenge of spending on landscaping.

Our normal spending is way down, but we did manage to blow way past our norm. Next year will be closer to 3%.

 

[W2R]

Yes! I bought a new Dell Inspiron laptop computer which I am using right now, and for me it is so much fun to have a new computer.

But that is not enough! So far I am on track to spend 1.1% of my portfolio this year since SS and mini-pension have been covering most of it. I give myself permission to spend 3.5% of my portfolio, so I need to kick up the spending if I can find anything to purchase that is of value to me.

I went to Amazon today and ordered a new 64 oz water bottle. I downloaded and paid for the Solsuite solitaire software. Still browsing and looking for something fun to buy.

I am planning to call the plumber sometime before the end of the year, in order to put in some new faucets and check my hot water heater to see if I should replace it. That should take care of some of the excess. Already paid for a roofer to fix a few leaks, and paid for my annual termite inspection. So that should take care of home maintenance for this year.

 

[11522914]

Our spending is slightly under budget this year. We've done several home improvements and I finally bought a new garage door. I can't believe I kept that POS working as long as it did.

Both my kids (19 & 24) are unemployed. I helped my son get a decent mattress (he really needed it) and my daughter get 4 new tires for her car.

DW will be retiring in January so any excess funds will be saved for future travel as our yearly travel budget isn't that large.

 

[gamboolman]

Shok - I know the feeling....

Based on my experience, the following will usually address any money burning a hole in my pocket.

just sayin....

 

[HI Bill]

Current thinking is a new Canon EOS R5 Camera and a couple of good "L" series Lenses.

Get the camera and lenses! Should be a bit smaller and definitely have better video performance than the other mirrorless DSLRs.

 

[Dash man]

Thanks for the reminder OldShooter. I have made a donation to the Red Cross for the wild fire victims. I have also made some contributions to the local food banks. There are many people out there hurting because of the pandemic, wild fires, unemployment, hurricanes, etc. If you have extra money consider helping others in need.



I am also helping some local small businesses who are about to go out of business by buying take out and contributing to Go Fund Me for them.

+1000

 

[6miths]

New vehicle last fall and a landscape job costing over twice that this summer. I'm good for a bit I think. Saved a bundle on travel since March so that's good - sort of.

 

[Souschef]

Embarrassingly, we have more than we can conceivably spend. DW is making monthly donations to a local food bank, and I am donating and working with a local hospice as well as a homeless shelter.
Pay it forward

 

[stepford]

I can just imagine how the typical Millennial would react to this thread...

 

[davebarnes]

I can just imagine how the typical Millennial would react to this thread...

OK, Boomer

 

[harllee]

Embarrassingly, we have more than we can conceivably spend. DW is making monthly donations to a local food bank, and I am donating and working with a local hospice as well as a homeless shelter.
Pay it forward

I totally agree. Most of us on this Forum are so lucky--my extra money this year is going to help others.

 

[Fermion]

I just sent a lot of extra money to the IRS

 

[Dave J]

We have not purchased much since Covid started.

Current thinking is a new Canon EOS R5 Camera and a couple of good "L" series Lenses.

Great choice on camera. It is out of stock everywhere, so it may be around Christmas before you can get one. I'm thinking of that exact camera myself!

 

[ShokWaveRider]

Great choice on camera. It is out of stock everywhere, so it may be around Christmas before you can get one. I'm thinking of that exact camera myself!

Yes, I am hoping later ones will be updated, maybe a Rev 2. Not holding my breath though.

 

[Dave J]

Yes, I am hoping later ones will be updated, maybe a Rev 2. Not holding my breath though.

It is easy to update the firmware on camera's these days. They have had at least 2 updates so far. Kind of normal on a new camera.

 

[ShokWaveRider]

It is easy to update the firmware on camera's these days. They have had at least 2 updates so far. Kind of normal on a new camera.

Yes I know but maybe they will tweak the hardware in later production runs. Hope springs eternal.

 

[Bamaman]

We're fortunate to be living a pretty much normal life--other than little/no social life. We moved 11 months ago and sold our too big home in March. All I seem to do is move stuff and go to the dump.

We installed a fiberglass pool and sodded the back yard. That was in lieu of our yearly trips to Europe--that were cancelled. We did go to the Smokies 2x, and have a house there on top of the mountain rented for Thanksgiving. Otherwise, we're going nowhere and just planting bushes and cleaning the garage.

Our Sunday School did meet the first time in person yesterday--very socially distanced. The church is down 50% at the Sunday service, and they're looking for 30%-40% of members to never return to church.

 

[Koolau]

We've been trying to double up on the charities we support. Some charities are becoming desperate since donations are off due to Covid19. At our ages, we no longer want "things." Full disclosure, if I weren't married, I would consider buying a 2020 Corvette! Don't tell DW. She hasn't forgotten the Corvette I bought 50 years ago.

 

[mrfeh]

Charitable contribution.

 

[pb4uski]

....Full disclosure, if I weren't married, I would consider buying a 2020 Corvette! Don't tell DW. ....

+1 I have wanted a "fun" car for the longest time, but DW is vehemently against it as a "waste"... IMO as much of a waste as the long-arm sewing machine that she would like.

With our lower spending perhaps we can both get what we want (well, maybe not a 2020 for me).

 

[athena53]

I totally agree. Most of us on this Forum are so lucky--my extra money this year is going to help others.

Same here. My charitable donations are up and I try to spread them around between "people in need" charities and those such as Zoos or the ballet where they have ongoing expenses but decreased, or no entry fees. In June my car died and I replaced it- figured this was a good year to do it since I'm not traveling. I also bought a new Crossroads bicycle to replace my 19-year old Diamondback.

I've got all the clothes, furniture, etc. I need- don't want to go shopping for more. One major trip I have planned for next year (Eastern Europe in July, God willing) is funded by a large credit from a trip cancelled this year. Any money I withdraw this year but don't spend or add to my grandchildren's 529s is being held aside for painting the house exterior and rebuilding the deck next year.

 

[ShokWaveRider]

OP Here, again. I was originally thinking after things like Charitable Donations and helping out family that folks do. Yes I can understand how they are up for some folks, that is commendable. We do not classify that as "Pocket" burning money though.

 

[harllee]

I have at least doubled my charitable contributions already this year so I have burned through my pocket money and then some.

 

[davebarnes]

My wife does.
Apple watch purchase coming in 3..2..1

Update: purchased